Corporation Tax Increases Soon to Take Effect
Corporation tax is being reformed and companies with profits of more than £50,000 will pay corporation tax at a higher rate than they do now.
Accounting, Tax & Business Blogs
Explore expert accounting, tax, bookkeeping, and business advice from across the UK. Get practical tips, financial insights, and the latest updates to help you manage your finances and grow your business.
Claiming NIC Veterans’ Relief from April 2022
To encourage employers to employ armed forces veterans, a new relief was introduced with effect from 6 April 2021 where an employer took on an
Identifying NIC Increases on The Payslip
For 2022/23 only, the rates of Class 1 (employer and employee) National Insurance contributions are increased by 1.25 percentage points, along with the rates of
MTD for VAT for All
Under Making Tax Digital (MTD) for VAT, VAT-registered traders must keep electronic records and file their VAT returns electronically using software that is compatible with
Filing 2021/22 Expenses and Benefits Returns
Employers who provided their employees with taxable expenses and benefits in 2021/22 need to report these to HMRC by 6 July 2022, unless they have
Completing a VAT Invoice – What Entries are Required?
When a customer purchases an item or service from a business an invoice confirming the amount to pay should be raised either at the time
Furnished Holiday Lets – Non-Compliance of the Rules – Implications Post Covid
Of the sectors of the UK economy affected by the pandemic, it has been the travel and tourism sector that has been hit most. One
Tax Issues on Transferring Shares to Family – Succession
Owners of successful businesses frequently use companies as a trading medium not least because of the tax benefits that can be achieved. When the time
High Value Residential Property Let by a Company – Does the ATED Apply?
The Annual Tax on Enveloped Dwellings (ATED) is a tax on high-value residential properties that are held within ‘an envelope’, such as company or a
Giving Away the Family Home – Beware the Gifts with Reservation Rules
The family home is likely to be your most valuable asset. Consequently, when looking to reduce inheritance tax, it may seem sensible to try and
60-Day Window to Report Residential Property Gains
If you realise a chargeable gain on a UK residential property, you now have 60 days rather than 30 days in which to tell HMRC
Employed? What The Forthcoming National Insurance Increases Will Mean for You
To help meet the costs of health and adult social care, a new levy, the Health and Social Care Levy, is introduced from 6 April
Join 5,000+ businesses comparing today